Energy XXI provides operational update on Hurricane Nate impact
Energy XXI provided an update on operations. Due to Hurricane Nate, the company and third-party operators evacuated crews on October 5. The storm resulted in essentially all production being shut in for nearly five days. The company sustained no significant damage to its operated offshore facilities. The company estimates about 3,000 net barrels of oil equivalent daily production remains curtailed due to the storm. EGC also said approximately 5,000 Boe of daily production is currently shut-in due to pipeline repairs and maintenance unassociated with the hurricane. The impact to Q4 production is estimated to be 3K-4K net Boe per day from the combination of the storm and pipeline repairs and maintenance. The Bureau of Safety and Environmental Enforcement must also deem the facilities that were in the path of the storm operational before production can resume. EGC is awaiting additional information regarding full restoration of production from third-party operated fields.